Sunday, May 5, 2013

Aurizon Mines Ltd. - ARZ.t

Aurizon Mines Ltd. - ARZ.t is a gold producer in the Abitibi region of north-western Quebec.

Hecla Mining Company will acquire all of the issued and outstanding common shares of Aurizon Mines Ltd. in exchange for $4.75 per Aurizon share or 0.9953 of a Hecla share or a combination of both, subject in each case to proration based on a maximum cash consideration of approximately $513.6-million and a maximum of approximately 57 million Hecla shares.

On May 3, 2013 the comapany released NEWS


During a routine evening inspection of the tailing ponds on Wednesday, May 1, 2013, at Aurizon Mines Ltd.'s Casa Berardi mine, located approximately 95 kilometres north of the town of La Sarre, in the Abitibi region of northwestern Quebec, it was discovered that there was a breach of an internal tailings dike, which resulted in a surge of liquids and suspended solids over the external tailings dike. A majority of the material was contained inside the tailings pond containment area, and no further discharges into the environment have occurred. The Casa Berardi mine has four tailings containment ponds, and the material flowed from one tailings pond into another tailings pond, neither of which are in use for current operations.

On visual inspection by Aurizon personnel, a residual film of material has affected a limited surface area outside the external dike.

Environmental authorities were immediately notified and are presently on site. The company does not expect there will be any impact on operations.


On January 14, 2013 the company released NEWS


Alamos Gold Inc. has commenced an offer to acquire Aurizon Mines Ltd. for approximately $780-million in cash and shares. The Offer will remain open until 5:00 p.m. (Toronto time) on February 19, 2013 unless withdrawn or extended. Alamos has also applied to list its common shares ("Alamos Shares") on the New York Stock Exchange (the "NYSE") under the symbol "AGI".

Under the terms of the Offer, Alamos proposes to acquire all of the outstanding common shares of Aurizon ("Aurizon Shares") for consideration value of C$4.65 per Aurizon Share. Each Aurizon shareholder can elect to receive consideration per Aurizon Share of either C$4.65 in cash (the "Cash Alternative") or 0.2801 of an Alamos Share (the "Share Alternative"), subject in each case to pro-ration based on a maximum cash consideration of C$305,000,000 and maximum number of Alamos Shares issued of 23,500,000.

The Offer reflects a premium of approximately 40% based on the closing price of C$3.33 for the Aurizon Shares on the TSX on January 9, 2013, and a premium of approximately 37% based on the volume-weighted average price of the Aurizon Shares on the TSX for the 20 trading days ended January 9, 2013.